UBS Group Issues Positive Forecast for The Hartford Insurance Group (NYSE:HIG) Stock Price

Key Points

• UBS Group has raised its target price for The Hartford Insurance Group's stock from $145.00 to $150.00, indicating a potential upside of 20.86% from its previous close.
• The Hartford reported an EPS of $3.41 for the last quarter, surpassing the anticipated estimate by $0.58, and showed a 7.7% increase in year-over-year revenue.
• The stock currently holds a consensus rating of "Moderate Buy" with several analysts providing varied target prices, while institutional investors own approximately 93.42% of the company’s shares.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) had its target price upped by analysts at UBS Group from $145.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the insurance provider's stock. UBS Group's target price suggests a potential upside of 20.86% from the stock's previous close.

A number of other research firms have also recently commented on HIG. Barclays dropped their target price on shares of The Hartford Insurance Group from $145.00 to $142.00 and set an "overweight" rating for the company in a report on Monday, July 7th. Morgan Stanley upped their price target on shares of The Hartford Insurance Group from $130.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on The Hartford Insurance Group from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their target price on The Hartford Insurance Group from $138.00 to $139.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group lowered their price objective on The Hartford Insurance Group from $118.00 to $117.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, The Hartford Insurance Group presently has an average rating of "Moderate Buy" and a consensus price target of $136.08.

The Hartford Insurance Group Trading Down 0.2%

HIG opened at $124.11 on Monday. The company has a 50-day simple moving average of $125.05 and a 200 day simple moving average of $120.73. The Hartford Insurance Group has a twelve month low of $103.96 and a twelve month high of $132.09. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.22 and a beta of 0.67.

The Hartford Insurance Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The insurance provider reported $3.41 EPS for the quarter, beating the consensus estimate of $2.83 by $0.58. The business had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $7.02 billion. The Hartford Insurance Group had a net margin of 11.83% and a return on equity of 19.60%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.50 earnings per share. Analysts predict that The Hartford Insurance Group will post 11.11 EPS for the current fiscal year.

Hedge Funds Weigh In On The Hartford Insurance Group

Several hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in The Hartford Insurance Group by 167.8% in the first quarter. Golden State Wealth Management LLC now owns 316 shares of the insurance provider's stock worth $39,000 after purchasing an additional 198 shares during the last quarter. Sharp Financial Services LLC bought a new stake in The Hartford Insurance Group in the first quarter worth about $260,000. Oppenheimer & Co. Inc. lifted its stake in The Hartford Insurance Group by 86.7% in the first quarter. Oppenheimer & Co. Inc. now owns 4,306 shares of the insurance provider's stock valued at $533,000 after purchasing an additional 2,000 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in The Hartford Insurance Group in the first quarter worth $233,000. Finally, Aurora Investment Counsel bought a new position in shares of The Hartford Insurance Group during the 1st quarter worth $2,434,000. Institutional investors own 93.42% of the company's stock.

About The Hartford Insurance Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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